CaliberCos Inc. — Director's Dealing 2023

May 15, 2023

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CaliberCos Inc. (CWD)
CIK: 0001627282
Period of Report: 2023-05-15

Reporting Person: LEUNG JADE (CFO)

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	154050	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Options (right to buy)	$3.36	2026-01-16	Class A Common Stock (386436)		Direct
Employee Stock Options (right to buy)	$5.85	2029-12-31	Class A Common Stock (59452)		Direct
Employee Stock Options (right to buy)	$6.49	2031-01-01	Class A Common Stock (5421)		Direct

Footnotes

F1: Restricted stock units ("RSUs") granted pursuant to Issuer's Amended and Restated 2017 Stock Incentive Plan. The RSUs are common stock equivalents and represent a contingent right to receive common stock of Issuer upon vesting. Of such RSUs (i) 118,903 were granted December 31, 2021, and are fully vested; (ii) 5,421 were granted on December 31, 2021, and vest one-quarter on each of February 19, 2022, 2023, 2024 and 2025; and (iii) 29,726 were granted April 1, 2022, vest one-quarter on April 1, 2023, and 1/36th per month thereafter.

F2: Employee stock options (right to buy)("Options") granted January 1, 2016. Such Options are fully vested.

F3: Options granted December 31, 2019 pursuant to Issuer's Amended and Restated 2017 Stock Incentive Plan. The Options vest one-quarter on the first anniversary date of the grant and 1/36th per month thereafter until fully vested on December 31, 2023.

F4: Options granted January 1, 2021 pursuant to Issuer's Amended and Restated 2017 Stock Incentive Plan. The Options vest one-quarter on the first anniversary date of the grant and 1/36th per month thereafter until fully vested on January 1, 2025.